Harvard Bioscience (NASDAQ:HBIO) Upgraded by Zacks Investment Research to “Buy”

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Harvard Bioscience (NASDAQ:HBIO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday, Zacks.com reports. The firm presently has a $7.75 price target on the medical instruments supplier’s stock. Zacks Investment Research‘s price target indicates a potential upside of 12.81% from the stock’s previous close.

According to Zacks, “HARVARD BIOSCIENCE develops, manufactures and markets tools used in drug discovery research at pharmaceutical and biotechnology companies, universities and government laboratories. “

A number of other brokerages have also recently issued reports on HBIO. Benchmark upgraded Harvard Bioscience from a “speculative buy” rating to a “buy” rating in a research note on Thursday, January 7th. KeyCorp increased their target price on Harvard Bioscience from $6.00 to $9.00 in a report on Wednesday, March 10th. Four investment analysts have rated the stock with a buy rating, Harvard Bioscience presently has an average rating of “Buy” and an average price target of $8.38.

Shares of HBIO stock opened at $6.87 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.98 and a current ratio of 2.05. The firm has a market cap of $274.30 million, a P/E ratio of -38.17 and a beta of 1.73. The business’s 50 day moving average price is $6.34 and its 200-day moving average price is $4.74. Harvard Bioscience has a fifty-two week low of $2.06 and a fifty-two week high of $7.29.

Harvard Bioscience (NASDAQ:HBIO) last issued its quarterly earnings data on Tuesday, March 9th. The medical instruments supplier reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.04. The business had revenue of $30.98 million during the quarter, compared to analyst estimates of $27.15 million. Harvard Bioscience had a negative net margin of 6.51% and a positive return on equity of 4.29%. As a group, equities analysts predict that Harvard Bioscience will post 0.07 EPS for the current year.

In other Harvard Bioscience news, CEO James W. Green sold 35,000 shares of the business’s stock in a transaction dated Friday, March 12th. The stock was sold at an average price of $5.98, for a total transaction of $209,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.40% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of HBIO. Squarepoint Ops LLC purchased a new stake in shares of Harvard Bioscience in the third quarter worth $75,000. Pasadena Private Wealth LLC lifted its stake in shares of Harvard Bioscience by 9.9% during the 4th quarter. Pasadena Private Wealth LLC now owns 65,575 shares of the medical instruments supplier’s stock valued at $281,000 after buying an additional 5,925 shares in the last quarter. Globeflex Capital L P boosted its holdings in Harvard Bioscience by 14.9% in the 4th quarter. Globeflex Capital L P now owns 138,433 shares of the medical instruments supplier’s stock worth $594,000 after buying an additional 17,978 shares during the period. Rhumbline Advisers increased its stake in Harvard Bioscience by 22.2% in the 4th quarter. Rhumbline Advisers now owns 44,334 shares of the medical instruments supplier’s stock worth $190,000 after buying an additional 8,066 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in Harvard Bioscience by 290.3% during the fourth quarter. Citigroup Inc. now owns 7,177 shares of the medical instruments supplier’s stock valued at $31,000 after acquiring an additional 5,338 shares during the period. 64.87% of the stock is currently owned by institutional investors and hedge funds.

Harvard Bioscience Company Profile

Harvard Bioscience, Inc develops, manufactures, and sells technologies, products, and services that enables fundamental research, discovery, and pre-clinical testing for drug development. It offers physiology, cell, and molecular instruments, such as syringe and peristaltic pump products, as well as a range of instruments and accessories for tissue and organ based lab research, including surgical products, infusion systems, and behavior research systems; and spectrophotometers, microplate readers, amino acid analyzers, gel electrophoresis equipment, and electroporation and electrofusion instruments.

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